NOKIA TO CUT UP TO 10,000 JOBS OVER NEXT TWO YEARS

17/03/2021

Aslıhan DOĞRU -TDO- Finnish telecommunications group Nokia has announced plans to cut up to 10,000 jobs over the next two years.

The layoffs will be carried out as part of a restructuring plan to cut costs and invest more in its research division, the company said in a statement.

Nokia aims to reduce its cost base by about 600m euros by the end of 2023.

Half of the savings are expected to be made in 2021.